5 Solar Stocks With Robust Revenue Growth in Q2 FY27 to Keep an Eye On
The Indian solar industry is seeing positive trends with the country moving towards increased energy capacity and manufacturing capabilities in the renewable space. The increase in demand for solar modules, cells, and renewable projects is helping businesses thrive in this sector. In light of this, there are five solar-related businesses that have seen an increase in their revenues in Q2 FY27.
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1. Websol Energy System Ltd
Websol Energy System Limited is an Indian solar energy company engaged in manufacturing photovoltaic (PV) cells and solar modules. Established in 1990, it operates a manufacturing facility in Falta, West Bengal, serving domestic and international markets.
Q2 FY27 Results (YoY): Revenue increased from Rs. 168 crore to Rs. 361 crore, registering a growth of 114.88 percent . Operating profit rose from Rs. 72 crore to Rs. 128 crore, up 77.78 percent , while the operating profit margin stood at 35 percent . Net profit increased from Rs. 46 crore to Rs. 80 crore, marking a growth of 73.91 percent .The outstanding order book stood at Rs. 1,280 crore as of Q2 FY27
2. ACME Solar Holdings Ltd
ACME Solar Holdings is an independent power producer in the renewable energy sector that develops, builds, owns and operates renewable energy projects. ACME Solar Holdings’ projects range from solar, wind, hybrid and firm and dispatchable renewable energy projects to battery energy storage systems. The company has a total contracted capacity of 5,380 MW, of which 4,310 MW is backed by signed PPAs, providing visibility on its project execution pipeline.
Q2 FY27 Results (YoY): Revenue increased from Rs. 468 crore to Rs. 887 crore, registering a growth of 89.53 percent . Operating profit rose from Rs. 400 crore to Rs. 753 crore, up 88.25 percent , while the operating profit margin stood at 85 percent . Net profit increased from Rs. 115 crore to Rs. 269 crore, marking a growth of 133.91 percent .
3. Emmvee Photovoltaic Power Ltd
Emmvee Photovoltaic Power Ltd is an Indian solar energy company engaged in the manufacturing of solar photovoltaic modules and solar cells. The company provides solar energy solutions across the renewable energy value chain, catering to utility-scale, commercial, industrial and residential solar projects.
Q2 FY27 Results (YoY): Revenue increased from Rs. 1131 crore to Rs. 1576 crore, registering a growth of 39 percent. Operating profit rose from Rs. 399 crore to Rs. 557 crore, up 39 percent, while the operating profit margin stood at 35 percent. Net profit increased from Rs. 238 crore to Rs. 382 crore, marking a growth of 16 percent. The Company has the total order book of 10.4 GW as of Q2 FY27
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4. Waaree Renewable Technologies Ltd
Waaree Renewable Technologies is the renewable energy EPC division of the Waaree Group.It has India's largest Solar panel manufacturing capacity also offers engineering, procurement, and construction solutions to build solar energy plants. It is also expanding its footprint in the areas of battery energy storage systems and transmission and distribution.
Q2 FY27 Results (YoY): Revenue increased from Rs. 775 crore to Rs. 1,058 crore, registering a growth of 36.52 percent . Operating profit has increased by Rs. 2 Crores from 158 Crores to Rs. 160 Crores. Operating profit margin stood at 15 percent . Net profit declined from Rs. 116 crore to Rs. 81 crore, marking a decrease of 30.17 percent . The company has consolidated unexecuted order book of Rs. 5,500 Crores as of Q2 FY27
5. Waaree Energies Ltd
Waaree Energies is a solar energy solution firm involved in the manufacturing of solar PV modules and solar cells. Other products manufactured by the firm include inverters, EPC solutions, energy storage solutions, and green hydrogen. Waaree Energies has manufacturing facilities in India and the United States.
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Q2 FY27 Results (YoY): Revenue increased from Rs. 6,066 crore to Rs. 7,518 crore, registering a growth of 23.94 percent . Operating profit declined from Rs. 1,406 crore to Rs. 1,335 crore, down 5.05 percent , while the operating profit margin stood at 18 percent . Net profit declined from Rs. 878 crore to Rs. 754 crore, marking a decrease of 14.12 percent. The company has total order book of Rs. 59,200 Crores as of Q2 FY27.